Culp, Inc. (NYSE:CULP) Major Shareholder Acquires $64,397.85 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 13,849 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $4.65 per share, with a total value of $64,397.85. Following the completion of the acquisition, the insider now owns 1,638,564 shares of the company’s stock, valued at $7,619,322.60. This represents a 0.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Culp Price Performance

Culp stock opened at $5.18 on Friday. The company has a market capitalization of $64.99 million, a price-to-earnings ratio of -3.08 and a beta of 1.06. Culp, Inc. has a one year low of $4.20 and a one year high of $6.85. The company’s fifty day moving average price is $5.31 and its two-hundred day moving average price is $5.46.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Culp in a report on Friday. They set a “hold” rating for the company.

Hedge Funds Weigh In On Culp

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares during the last quarter. Citadel Advisors LLC increased its position in Culp by 36.8% during the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after buying an additional 7,386 shares during the last quarter. Northern Trust Corp increased its position in Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after buying an additional 14,634 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of Culp in the fourth quarter valued at about $137,000. Finally, Ameriprise Financial Inc. grew its position in shares of Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock valued at $3,181,000 after purchasing an additional 42,216 shares during the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.